Crypto Technicals: LTC/USD bounces off 55-EMA support, scope for test of 80

LTC/USD chart - Trading View 

Exchange - Coinbase

Support: 70.35 (55-EMA); Resistance: 80 (Trendline)

Technical Analysis: Bias Bullish 

- Price action has bounced off 55-EMA support, bias higher

- Technical indicators support upside. 5-DMA is biased higher

- Stochs and RSI are bullish, MACD is on verge of bullish crossover on signal line

- The pair is holding cloud support and has bounced off with a hammer formation

- Scope for test of 80 (trendline resistance), break above eyes 81.50 (May 4th high)

- 5-DMA is immediate support at 75.95. Break below to see weakness till 55-EMA 

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